Daiwa’s Kiyota and Nomura’s Yamaji to Head Tokyo, Osaka Bourses

Japan Exchange Group Inc. (8697), operator
of biggest equity market outside the U.S., named two executives
from the country’s largest brokerages to head the Tokyo and
Osaka exchanges.

Akira Kiyota, honorary Chairman of Daiwa Securities Group
Inc. (8601), will replace Tokyo Stock Exchange president Hiroyuki Iwakuma, according to a statement from Japan Exchange. Hiromi Yamaji, executive vice president at Nomura Holdings Inc. (8604), will
take over from Motoharu Fujikura as president of the Osaka
exchange. The exchanges aim to increase experts from brokerages
with international connections, the Nikkei newspaper reported
earlier today.